Versions

 

PIB 4.4.6

For the purposes of the Rules in this chapter, a Person is a "Related Person" of an Authorised Firm if the Person:

(a) is, or was in the past 2 years:
(i) a member of a Group or Partnership in which the Authorised Firm is or was also a member; or
(ii) a Controller of the Authorised Firm or a Close Relative of such a Controller;
(b) is, or was in the past 2 years, a Director, Partner or senior manager of the Authorised Firm or an entity referred to under (a)(i) or (ii), or a Close Relative of such a Director, Partner or senior manager; or
(c) is an entity in which a Director, Partner or senior manager of the Authorised Firm or an entity referred to in (a)(i) or (a)(ii), or a Close Relative of such a Director, Partner or senior manager has a significant interest by:
(i) holding 20% or more of the shares of that entity, or a Parent of that entity, if that entity is a company; or
(ii) being entitled to exercise 20% or more of the voting rights in respect of that entity;
except that a Partner is not a Related Person where that Person is a limited partner of a Limited Partnership formed under the Limited Partnership Law of 2006 or any similar limited partnership constituted under the law of a country or territory outside the DIFC.
Derived from RM111/2012 (Made 15th October 2012). [VER20/12-12]